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Trustee Savings Bank

Volume 180: debated on Wednesday 14 August 1907

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I beg to ask Mr. Chancellor of the Exchequer if his attention has been directed to a statement made by Mr. Gladstone in this House on 18th June, 1880, with reference to the Trustee Savings Bank, that the annual account is naturally and reasonably based upon the price of public securities on the day when the account is taken; and can he explain why the method of valuation which was natural and reasonable in 1880 is now abandoned.

I am aware of the statement referred to. It is fair to point out that it occurred in a speech in which Mr. Gladstone proposed to adopt a different method in place of that of market-price valuation. In recent years, as I have frequently explained, the publication of these valuations has been discontinued in accordance with the recommendation of the Select Committee of 1902.